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The burger chain's CVA plan secured the required 75% backing it needed from creditors, which include landlords, during today's vote.

A total of 99% of creditors voted in favour of the CVA.

Will Wright, KPMG restructuring partner and joint CVA supervisor, said: "Today's creditor vote in favour of the CVA proposal will allow Byron to conclude its previously negotiated financial restructuring and is a key step in the directors' turnaround plan.

"As with all CVAs, more than 75% of creditors had to vote in favour in order to pass the resolution. Today's vote saw us secure significantly more than this majority with 99% of all voting creditors choosing to approve the CVA."

Byron boss Simon Cope said: "We are very pleased to have such strong support from our creditors.

"As a result of this restructuring process, a number of our restaurants will close and we will do everything possible to redeploy staff to other sites and initiatives.

"With the support of our new owners, Three Hills Capital, I'm confident that a new Byron can begin to take shape.

"Byron's brand and offer remains strong and distinctive, and with a smaller and more efficient restaurant estate we can continue to provide an outstanding burger experience for our customers and to develop and grow a sustainable and innovative business for the long term."

As part of the sale process linked to the Byron's restructuring, investment house Three Hills Capital Partners will become the biggest shareholder by snapping up half of Hutton Collins' stake.

Professional services giant KPMG, which is handling the CVA, moved to reassure staff that no restaurants would close on day one of the process and employees, suppliers and business rates would continue to be paid on time and in full.

Mark Edwards, BDO partner and head of restaurants and bars, said the casual dining sector was suffering from mounting cost pressures driven by the National Living Wage, the apprenticeship levy, inflation's squeeze on consumer spending and higher import costs linked to the Brexit-hit pound.

He said: "Without doubt, over the next six months the accounts (of restaurants in the casual dining sector) will show more impairments and writedown of assets, leading to a sale, CVA, or some tough negotiations with landlords.

"There will be site closures because there are so many of these marginal sites that it's hard to negotiate offloading them without a serious process like a CVA."

Jamie's Italian, the restaurant chain founded by celebrity chef Jamie Oliver, announced earlier this month that it was seeking a CVA to help put the company on firmer financial ground.

Toys R Us UK successfully staved off the threat of administration in December when creditors backed its CVA plans, which triggered the loss of 800 jobs and the closure of 26 loss-making stores.